Men's innerwear brand ​​Almo raises $2-M led by IP Ventures

Direct-to-consumer men's innerwear brand Almo has raised USD 2 million (INR 15 crore) in a pre-Series A round of funding led by Inflection Point Ventures. The funding round also saw the participation of LetsVenture and AngelList India. Gurugram-based Almo intends to use the funds to bolster its branding and marketing efforts besides setting up an R&D lab to continue innovating on sustainable product lines. Almo aims to cross INR 100 crore revenue by year-end.